• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Ripple CTO Steps Down, Accepts New Offer – What You Need To Know
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Ripple CTO Steps Down, Accepts New Offer – What You Need To Know

Here’s the Single Factor that Could Trigger a Bitcoin Selloff to $7,600

Cole Petersen
by Cole Petersen
5 years ago
·
Posted in Bitcoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure
  • Bitcoin has entered a firm consolidation phase as it struggles to garner any notable upwards momentum
  • It does appear that the resistance existing within the upper-$9,000 region is insurmountable, with another rejection here potentially proving to be grave
  • There are a few factors that suggest the cryptocurrency is poised to see some notable downside in the days and weeks ahead
  • One such factor is the existence of a CME futures gap at $7,600. This coincides with other analyst’s downside targets

Bitcoin has seen some turbulent price action throughout the past week, rallying to highs of $10,500 before facing a swift rejection that led it to lows of $8,600.

The crypto now appears to have entered a firm consolidation phase as it hovers within the mid-$9,000 region.

It still remains unclear as to whether this marks a bout of bullish consolidation beneath resistance, or if it will be followed by a sharp downside break.

Analysts are noting that a break above $10,500 is imperative in order for BTC to confirm both its technical and fundamental strength.

There is one factor that suggests tremendous downside could be imminent, however, as analysts are pointing to the existence of a CME futures gap at $7,600.

Bitcoin Enters Consolidation Phase Despite Fundamental Weakness

At the time of writing, Bitcoin is trading down just under 1% at its current price of $9,690. This is around the price level it has been hovering at in the time following its capitulatory decline from the mid-$10,000 region earlier this week.

This consolidation has muddied the clarity that many traders previously had regarding the state of its mid-term trend.

It is important to note that there are multiple fundamental factors that point to underlying strength, but one analyst believes Bitcoin needs to break above $10,500 to confirm these factors as being bullish.

“BTC/USD rejected the resistance of 10500, which is essential for bitcoin to break if it’s supposed to move further up as fundamental analysis would finally suggest discounting mining difficulty, hashrate after the halving, mining costs and the limited supply,” the analyst explained.

This CME Futures Gap Suggests Downside Could Be Imminent 

Some traders have noted that the inability to break $10,500 has put a triple-top formation in play, potentially opening the gates for the crypto to see some notable downside in the days and weeks ahead.

Bitcoin
Triple Top Formation (Image Courtesy of DonAlt)

That being said, it is possible that BTC will move to the $7,000 region in order to fill an open CME futures gap that exists here.

“Also, there are currently two significant CME gaps open, which more often than not tend to get filled: 7600s and 11700s,” one analyst noted.

If BTC is able to break above $10,500, however, it could target this upside CME gap in the $11,000 region – helping BTC set fresh yearly highs.

Featured image from Shutterstock.
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Cole Petersen

Cole Petersen

Follow

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Full Profile

Related Posts

Tether wzmacnia rezerwy, kupując BTC warte miliard dolarów

Tether wzmacnia rezerwy, kupując BTC warte miliard dolarów

1 hour ago
Binance bitcoin

Binance Founder Triggers Bitcoin Bull Run Expectations With Cryptic Tweet

3 hours ago
Bitcoin

Historic Kimono Brand Changes Name To ‘Bitcoin Japan’ In Rebranding Move

1 day ago
Bitcoin bull

Bitcoin Price Reaches ‘Critical Junction’: How A Rally To $139,000 Would Play Out

2 days ago
Bitcoin

Bitcoin Long-Term Holders Easing Off On Sales—What’s Happening?

2 days ago
Bitcoin

Is A Bitcoin Avalanche Coming? Samson Mow Sees ‘Suddenly’ Adoption Phase Ahead

2 days ago
Please login to join discussion

Premium Sponsors

Press Releases

  • най-добрите криптовалути

    Най-добрите криптовалути за...

    2 hours ago
  • As the Tapzi Fundraiser Continues to Generate Buzz, Could It Be One of This Year’s Best Crypto Presales?

    As the Tapzi Fundraiser Continues to Generate Buzz, Could...

    5 hours ago
  • 距離上線僅剩3周:Snorter代幣ICO融資突破 415...

    1 day ago
  • 上線倒計時:僅剩25天可搶購 Snorter Bot 代幣

    5 days ago
  • 加密錢包掀起發幣熱潮 Best Wallet...

    1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.